Nathan Township's General Fund transfers three vehicles to the Internal Service Fund. The vehicles, which have a useful life of five years, are transferred at the end of their fourth year. The original cost for all three vehicles totaled $75,000
The entry in the Internal Service Fund would be
Debit Credit
A. Vehicles
Accumulated Depreciation – Vehicles
Net Investment in Capital Assets $75,000
$60,000
15,000
B. Vehicles
Accumulated Depreciation – Vehicles
Capital Contributions $75,000
$60,000
15,000
C. Vehicles
Capital Contributions $15,000
$15,000
D. Vehicles
Accumulated Depreciation – Vehicles
Transfer from General Fund $75,000
$60,000
15,000
B
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